Fisher Asset Management LLC decreased its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 504,727 shares of the restaurant operator’s stock after selling 32,928 shares during the period. Fisher Asset Management LLC owned about 1.09% of The Cheesecake Factory worth $29,532,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Veriti Management LLC bought a new stake in shares of The Cheesecake Factory in the fourth quarter worth $61,000. Nisa Investment Advisors LLC grew its holdings in shares of The Cheesecake Factory by 38.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,435 shares of the restaurant operator’s stock worth $90,000 after acquiring an additional 680 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of The Cheesecake Factory in the first quarter worth $587,000. Eudaimonia Partners LLC bought a new stake in shares of The Cheesecake Factory in the third quarter worth $144,000. Finally, Alpha DNA Investment Management LLC bought a new stake in shares of The Cheesecake Factory in the fourth quarter worth $131,000. 93.07% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on CAKE. JPMorgan Chase & Co. lifted their price objective on The Cheesecake Factory from $58.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, April 12th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on The Cheesecake Factory from $41.00 to $45.00 and gave the company an “underweight” rating in a report on Thursday, April 29th. Credit Suisse Group boosted their price target on The Cheesecake Factory from $47.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, April 29th. Piper Sandler boosted their price target on The Cheesecake Factory from $38.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on The Cheesecake Factory from $56.00 to $62.00 and gave the company a “hold” rating in a report on Thursday, April 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The Cheesecake Factory presently has a consensus rating of “Hold” and an average price target of $48.65.
NASDAQ:CAKE opened at $61.89 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $2.87 billion, a P/E ratio of -45.51, a P/E/G ratio of 2.70 and a beta of 1.68. The Cheesecake Factory Incorporated has a 12 month low of $16.80 and a 12 month high of $65.81. The business’s 50-day moving average is $59.22 and its 200 day moving average is $45.66.
The Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, April 28th. The restaurant operator reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.26. The company had revenue of $627.40 million for the quarter, compared to the consensus estimate of $596.42 million. The Cheesecake Factory had a negative return on equity of 8.77% and a negative net margin of 1.89%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 earnings per share. On average, research analysts forecast that The Cheesecake Factory Incorporated will post -1.2 earnings per share for the current year.
About The Cheesecake Factory
The Cheesecake Factory Incorporated operates restaurants. The company produces cheesecakes and other baked products for its restaurants, international licensees, and third-party bakery customers, as well as external foodservice operators, retailers, and distributors. It owns and operates 294 restaurants throughout the United States and Canada under brands, including The Cheesecake Factory and North Italia; and a collection of Fox Restaurant Concepts, as well as 27 The Cheesecake Factory restaurants under licensing agreements internationally.
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